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Armstrong Industrial Safety General Trading Co. Nigeria Limited is a reliable power tools distribution company with offices in Port Harcourt and Lagos, all in Nigeria. We possess vast knowledge and years of experience in delivering, purchasing, and supplying civil engineering services and manpower supplies, which makes us different from our competitors.

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Nigeria finalises winners of coveted two-year crude oil contracts

Oilfield
19-05-2021
Nigeria has finalised the list of companies and countries that will take its coveted crude oil cargoes through 2023, six sources told Reuters.

The 26 companies and 12 governments will have the right to sell and trade some of the more than 1.5 million barrels per day (bpd) produced by Nigeria, Africa’s top oil exporter, from 2021 to 2023.

One of the sources said the winners would each have the right to purchase two cargoes annually. A total of 320,000 bpd was allotted to oil-for-fuel swaps that provide the bulk of the gasoline for the largest consumer in West Africa.

State oil company NNPC did not immediately comment.

NNPC issued the tender for the contracts in September last year, but the process was delayed several times. Sources told Reuters one complication was the rehabilitation of the Port Harcourt oil refinery, which NNPC was working to finance with the backing of oil cargoes.

Crude oil contracts awarded in 2018 lasted for two years. A full list was never published, but sources told Reuters it included least 100 companies.

Roughly 90% of Nigeria’s foreign exchange and half its budget come from oil and gas exports. An oil price crash amid the COVID-19 pandemic, and production cuts as part of an agreement with the Organization of the Petroleum Exporting Countries and other producers severely constrained Nigeria’s revenues and helped push it last year into its second recession in four years.


       COMPANIES
 1      SAHARA ENERGY RESOURCES
        LIMITED
 2      OCEANBED TRADING LIMITED
 3      LEVENE ENERGY
 4      OANDO PLC
 5      BONO ENERGY
 6      MOCOH ENERGY
 7      DUKE ENERGY
 8      BP OIL
 9      WEST AFRICA GAS LIMITED
 10     EMADED
 11     LITASCO SA
 12     PETROGAS LIMITED
 13     A.A. RANO
 14     HYDE 
 15     MRS
 16     MATRIX
 17     BRITANNIA-U
 18     MASTERS
 19     AMG
 20     CASIVA
 21     BARBEDOS
 22     MERCURIA
 23     TRAFIGURA
 24     VITOL
 25     HINDUSTAN
 26     PERTAMINA
       
 GOVERNMENT TO GOVERNMENT
 1      CHINA
 2      NIGER
 3      COTE D'IVOIRE
 4      GHANA
 5      INDIA
 6      TOGO
 7      SOUTH AFRICA
 8      SIERRA LEONE
 9      LIBERIA
 10     TURKEY
 11     SENEGAL
 12     UAE


Source: Reuters

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